Bank of England Drops Rates, ECB Keeps Steady

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Article Submitted by: Sam Cass
Economics and Currencies

Tags: Bank of england, European interest rates, Currency rates.

The Bank of England cut its rate by 25 basis points to 5% today while the European Central Bank held rates steady at 4%.

Both rates are well above the US benchmark rate. It's no wonder the dollar has come under such pressure lately.

Neither bank committed to future rate cuts so it will be interesting to see how currencies respond. Further rate cuts in the US may already be priced into the dollar and perhaps we've seen the worst of the dollars decline.

Submitted: Apr 10, 2008 Views: 252 Comments: 0 Likes: 1

View Article: http://www.nytimes.com/aponline/business/AP-Europe-Interest-Rates.h...

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The Best Savings Rates, CD Rates, and More

Other writing by Sam Cass

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